Subscriptions have been making things easier in a number of ways: you can subscribe to music with Spotify; you can subscribe to movies with Netflix and Hulu; you can even subscribe to food, with the meal plan, Blue Apron. What most people don’t know yet, however, is that you can also subscribe to cars – for a low price and on a month-to-month basis.
Essentially, you pay a monthly fee to gain access to a fleet of cars. You do not need to worry about insurance or maintenance costs anymore, and, as per your contract, you can swap out the car whenever you feel like it (read: on a monthly basis). Hypothetically, you could drive a different luxury car for each season if you wanted – take the family on a road trip in an SUV and then swap it for an eco-friendly two-door vehicle for everyday driving.
Why Join a Car Subscription Service?
Having a car subscription means more freedom, a certain level of flexibility that the traditional ways do not offer. You make the commitment to a service, not a few years worth of paying down a debt. Additionally, you may need a different type of vehicle at certain times of your life; the family road trip may require a SUV, but your everyday commutes only require a small vehicle where you can save on gasoline.
Those with questionable credit scores can take advantage of this option, as the approval process is easy compared to financing and leasing, and incredibly quick. After all, you’re just paying a monthly fee.
Is It More Cost-Effective Than Leasing or Buying?
If you are interested in this type of freedom when it comes to having a vehicle, then the benefits are numerous. If you already have proof of your insurance you can pay a lower amount, but for the most part there are no negotiations necessary. There are already a lot of ways to go about obtaining a vehicle in the traditional sense, so it is hard to quantify if subscription cars are cheaper or more expensive.
Know the Rules
At the end of your contract someone else will be using the vehicle. Rules are set to make certain the vehicle has a longer driving life, and although each service is different, there is generally always a mileage clause. Sometimes you can purchase the mileage you want.
Keeping the car in good repair is also mandatory, ant often there is no international driving, no smoking, no extra drivers, and no animals allowed in the subscription car. The vehicle may also be tracked with GPS.
Subscription Cars Are For Freedom
Subscription cars are the new way to acquire a vehicle. Make certain to read the fine print of the contract and do your analysis beforehand. This type of way to acquire a car gives more freedom due to not having the usual list of responsibilities such as maintenance and insurance.
Subscriptions are slowly making every facet of modern life more convenient and customizable, and it’s exciting to see the automotive industry hop on board. Head to your local dealership to learn more about the particular car subscriptions available in your area.